The Thailand Securities and Exchange Commission has imposed civil sanctions against three individuals for colluding to manipulate the share price or trading volume of Readyplanet Public Company Limited (READY). The sanctions require civil monetary penalties totaling THB 233,113,379 and impose bans on trading securities and derivatives and on serving as a director or executive of securities issuing companies or securities companies for specified periods. Following a referral from the Stock Exchange of Thailand in July 2023 and the SEC’s investigation, the SEC found that Mr. Thaveerat Proongpattanaskul, Miss Pajaree Samattakitborriharn, and Miss Phitchayada Sirithong acted in concert to distort normal market conditions on 22 February 2023, the first trading day for READY shares. The conduct involved coordinated buying and order placement to push up the opening price, sweep offers across multiple price levels, and place bids continuously to attract other investors, enabling the group to sell shares for profit. The Civil Sanction Committee ordered each offender to pay a civil penalty, compensation equal to the benefits received or that should have been received, and reimbursement of investigative expenses, totaling THB 85,732,393, THB 81,277,568, and THB 66,103,418 respectively, and imposed a prohibition on securities and derivatives trading for 8.5 months and a ban from director or executive roles for 17 months. The trading and management bans take effect when the offenders sign consent letters agreeing to comply; if any refuse, the SEC will submit the case to the public prosecutor to file a lawsuit in the Civil Court seeking maximum applicable civil sanctions that are not lower than those specified by the Civil Sanction Committee. Civil penalties and compensation amounts are to be remitted to the Ministry of Finance as public revenue.

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